Emaar AGM to discuss 10pc dividend
Dubai, April 4, 2013
Dubai-based developer Emaar Properties will discuss the proposal of a 10 per cent dividend for 2012 at its upcoming annual general meeting (AGM) in Dubai.
The 15th AGM will be held on April 9 at The Address Dubai Mall hotel in Downtown Dubai. The AGM will also appoint the auditors for 2013.
If the meeting falls short of quorum, the next AGM will be held April 16, a statement said.
In 2012, Emaar recorded full-year net profits of Dh2.119 billion ($577 million), 18 per cent higher than the full-year 2011 net profit of Dh1.794 billion ($488 million). Annual revenues for 2012 reached Dh8.240 billion ($2.243 billion), similar to the 2011 revenues of Dh8.112 billion ($2.209 billion).
The company’s shopping malls & retail and hospitality & leisure businesses contributed Dh4.096 billion ($1.115 billion) to the full-year revenue, representing 50 per cent of the total.
The contribution of Emaar’s international operations to the total revenue was Dh1.264 billion ($344 million), representing 15 per cent of the total revenue.
Last year, Emaar handed over some 1,100 homes and more than 140,000 sq ft of commercial office space in Dubai as well as over 700 homes and more than 122,000 sq ft of commercial space in its international markets.
Emaar also launched several premier projects including Panorama at The Views, The Address The BLVD in Downtown Dubai, and luxury villas and town houses in Arabian Ranches. – TradeArabia News Service